Crypto Market News: Cashing in on the latest memecoin craze in the crypto market, a Pepe Coin (PEPE) whale accumulated the coin in big volumes in exchange for all of his cryptocurrency holdings. The memecoin was launched on April 18, 2023, but it really saw massive demand only in the last one week. In the recent days, several crypto exchanges listed many meme coins, out of which PEPE shot up in huge numbers.
Meanwhile, the crypto market recovered slightly from recent losses after the US Federal Reserve announced a 25 bps target rate on expected lines. The Bitcoin price rose by over 2% in the last 24 hours, rising hopes of a jump above the $30,000 level.
Whale Exchanges All His Crypto For PEPE
On Thursday, on chain data showed that a crypto whale exchanged almost all assets for $PEPE Coin. Interestingly, the trades, which were made around 15 hours ago, cumulatively resulted in over $1 million worth profits.
Lookonchain informed that the buying price of $PEPE for the whale was ~$0.0000005533 and made a profit of approximately $1.23 million.
